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Ministry of Finance Malaysia

Ministry of Finance Malaysia Overview
The Ministry of Finance Malaysia or Treasury Malaysia looks after the financial and economic affairs of the state of Malaysia. Finance Ministry of Malaysia formulates the financial and economic plans, that are followed by the Malaysian national government to ensure overall economic improvement.

Treasury Malaysia Objectives
Treasury Malaysia executes its functions, based on certain objectives.

They may be mentioned as below:
  • Ensure sustained and continuous economic growth
  • Pursue a more equitable sharing of national wealth
  • Pursue a more equitable sharing of national wealth
  • Strengthen national competitiveness and economic resilience
  • Improve quality of life and well being of society
  • Ensure effective and prudent financial management

Ministry of Finance Malaysia Vision
The following aims make up the vision of Finance Ministry of Malaysia:
  • To be an exemplary world class agency both domestically and internationally
  • To be the premier agency responsible for national financial and economic management

Ministry of Finance Malaysia Functions
Finance Ministry of Malaysia performs a wide variety of functions.

They may be enlisted as below:
  • To formulate and implement fiscal and monetary policies in order to ensure effective and efficient distribution and management of financial resources
  • To Monitor the financial management of Ministries, Government Departments and statutory Bodies
  • To formulate financial management and accounting processes, procedures and standards to be implemented by all Government
  • To formulate and administer policies related to be the management of Government procurement
  • To manage the acquisition and disbursement of federal Government loans from domestic and external sources
  • To formulate policies and administer Government housing loans for public sector employees
  • To monitor that Minister of Finance Incorporated companies are managed effectively

Ministry of Finance Malaysia Services
The following services are provided by Finance Ministry of Malaysia:
  • Approval Of Revenue And Expenditure Codes
  • Computerized Vot Book System
  • Approval Of Financial Forms
  • Company Registration

Ministry of Finance Malaysia Tax Legislation

Ministry of Finance Malaysia has instituted certain laws that deal with the issue of taxation. The legislations and their dates of creation are enlisted as below:

Name Time of Creation
Promotion Of Investment Act 1986
Sales Tax Act 1972
Income Tax Act 1967
Excise Act 1976
Labuan Offshore Business Activity Act ( Lobata) 1990
Free Zone Act 1990
Customs Act 1967

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Last Updated on : 1st August 2013

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